The purpose of BasicEconomicsToday.com is to provide quick information and insights on the major economic issues affecting the United States. Data from multiple sources is provided with brief explanations. The data is selected based on its importance as an economic indicator and the significance of any recent changes.

Links to the following sources are on the Links to Economics Web Sites page on the left.

Producer Price Indexes and Percent Changes by Stage of ProcessingSeasonally Adjusted Percent Change From April to May

Unprocessed energy materials 6.3

This data focuses on the change of pricing of intermediate goods. Intermediate goods are used in the production of the final product which goes on the shelf for sale to the customer. Following intermediate good prices gives insight on the problems of production in different industries. It also gives insight on future price changes of final goods, because companies will raise their price when their production costs increase.

2018 Q1 Seasonally adjusted at annual ratesGDP $19,956.8 billion

The Q1 Data.Of all the indicators above, Gross Private Domestic Investment (GPDI), investment in resources by companies, will have the largest impact on the future of the US economy. Growth in GPDI is good, especially in structures, or business buildings, and intellectual property products

Treasury Direct - June 26, 2018, will be updated on this site once per month

Total Public Debt Outstanding $21,149,679,487,479.03trillion

Debt Clock and Other Useful Datahttp://www.usdebtclock.org/index.html

The debt has reached the limit approved by Congress. See attached article "The Debt Argument."

PCE excluding food and energy (Q1 2018 BEA NIPA Table 2.3.7) 2.3%

The inflation in the energy sector is bad for American companies and consumers. Purchasing solar energy would be awesome! The core inflation rate is around 2 percent, which is where the Fed wants it to be to avoid reducing real income. Consumers are basically able to buy the same basket of goods when their real income remains the same.

Consumer confidence continues to be up.

Fed Funds Rate 1.92

Target Rate/Range 1.75-2.00

The Fed is intending to raise interest rates through 2018 to prevent higher inflation. The Fed Funds Rate is the rate at which banks lend to each other overnight. Increases or decreases in the Fed Funds Rate can be symbolic of the Open Market Operations the Fed is conducting. Open Market Operations, that is buying and selling Treasury Bonds, have a real effect on interest rates and the money supply.

"The Bush and Obama administrations had made a mistake-inexcusable given what had occurred in the years prior to the crisis-that banks' pursuit of their own self-interest was necessarily coincident with what was in the national interest" (Stiglitz, 2010).

The public is outraged by tax payer dollars paid to the bankers that largely caused a recession with reckless lending decisions.